AnswersTX-Personal Financial Literacy and EconomicsManaging Financial Information

Managing Financial Information Answers

10 verified answers3 views
1
Free Preview

Which of these scenarios most puts Margaret at risk of identity theft?

A
Margaret manages her bank account through its website while using a restaurant’s public wifi.
B
Margaret manages her bank account by calling her bank directly and using personal information for identification.
C
Margaret manages her bank account by visiting a local branch and signing paperwork for the bank teller.
D
Margaret manages her bank account by keeping personal records to compare to the bank’s records.
2
Free Preview

Which person is a victim of identity theft?

S
Suzie, whose e-mail was stolen and used to apply for a credit card from a major retailer
M
Michael, whose credit score was stolen and used to make a down payment on a home
P
Pam, whose smartphone was stolen and used to make a mortgage payment
T
Thomas, whose credit card information was stolen and maxed out at a jewelry store
3

bankruptcypaymentdissolutioncancellation

A
bankruptcy
B
payment
C
dissolution
D
cancellation
4

Bryan receives an e-mail from a group posing as a police officers association and asking for bank account information. This is an example of

A
social engineering.
B
phishing.
C
counterfeiting.
D
forgery.
5

monitorflagfreezecancel

A
monitor
B
flag
C
freeze
D
cancel
6

Question text not available

Question illustration
A
She pays her bills on time and has a higher amount of debt.
B
She has a lot of debt with a history of making late payments.
C
She pays her bills on time and has a lower amount of debt.
D
She has a lot of money and tends to pay her bills on time.
7

Checking a credit report is a good way to

A
know whether credit is improving.
B
reduce the amount of money owed.
C
determine which debts to pay off.
D
decrease interest payments.
8

The tables show two ways to pay off $500 in credit card debt.

Question illustration
A
$15 a month because it will let the person keep more spending money
B
$100 a month because it will free up credit to buy other things
C
$15 a month because it will save money in the long run
D
$100 a month because it will reduce the amount of interest paid
9

The Jones family would like to buy a home, but they have a large amount of debt that has led to a weak credit score. What step could the Jones family take to improve their credit?

T
They could ask a credit agency for assistance with paying off debt.
T
They could declare bankruptcy to eliminate the debt they owe.
T
They could hire a financial adviser to figure out how to pay off their debt.
T
They could ask creditors to defer loans while they apply for a mortgage.
10

It is important for victims of identity theft to contact the authorities

A
after determining whether they have lost any money.
B
quickly to protect themselves from embarrassment.
C
after determining how someone stole their identity.
D
quickly to protect themselves from financial losses.
11

Which consequences can victims of identity theft face? Check all that apply.

A
difficulty getting a loan or credit card
B
an increase in debt
C
the loss of a job
D
difficulty keeping assets
E
a loss of money
F
difficulty landing a new job
12

[BLANK]

A
bankruptcy
B
payment
C
dissolution
D
cancellation
13

Which of these scenarios most puts Margaret at risk of identity theft?

A
Margaret manages her bank account through its website while using a restaurant’s public wifi.
B
Margaret manages her bank account by calling her bank directly and using personal information for identification.
C
Margaret manages her bank account by visiting a local branch and signing paperwork for the bank teller.
D
Margaret manages her bank account by keeping personal records to compare to the bank’s records.
14

Which statement best describes how lenders determine borrowing conditions for a customer?

A
They access the customer’s credit reports.
B
They see how large of a down payment the customer makes.
C
They look into how much the customer has saved for emergencies.
D
They access the customer’s work history.
15

Which person is a victim of identity theft?

A
Suzie, whose e-mail was stolen and used to apply for a credit card from a major retailer
B
Michael, whose credit score was stolen and used to make a down payment on a home
C
Pam, whose smartphone was stolen and used to make a mortgage payment
D
Thomas, whose credit card information was stolen and maxed out at a jewelry store
16

The Jones family would like to buy a home, but they have a large amount of debt that has led to a weak credit score. What step could the Jones family take to improve their credit?

A
They could ask a credit agency for assistance with paying off debt.
B
They could declare bankruptcy to eliminate the debt they owe.
C
They could hire a financial adviser to figure out how to pay off their debt.
D
They could ask creditors to defer loans while they apply for a mortgage.
17

It is important for victims of identity theft to contact the authorities

A
after determining whether they have lost any money.
B
quickly to protect themselves from embarrassment.
C
after determining how someone stole their identity.
D
quickly to protect themselves from financial losses.
18

[BLANK]

A
monitor
B
flag
C
freeze
D
cancel
19

Bryan receives an e-mail from a group posing as a police officers association and asking for bank account information. This is an example of

A
social engineering.
B
phishing.
C
counterfeiting.
D
forgery.
20

Which information is included on a person’s credit report? Check all that apply.

A
money owed to a relative
B
current credit cards and loans
C
total amount of money owed
D
whether bills are paid on time
E
how much money lenders will loan
F
interest rates for different loans

Did you find these answers helpful?

More from this Course

Quiz
16 verified answers

Managing Financial Information

Quiz
15 verified answers

Quiz

Quiz
11 verified answers

Managing Financial Information